Green levies to make up increased share of tax revenue

Click here for this story on Accountancyage.com

Secretary of state for environment food and rural affairs Caroline Spelman

AN INCREASED PROPORTION of tax revenues will come from environmental levies and taxes as the UK moves to a more green economy, according to a report published today.

The business, energy and environment secretaries released their "Enabling the Transition to a Green Economy" today, which indicates the government's expectation that green taxes will grow as a percentage of overall revenues, The Financial Times reports.

"The government will increase the proportion of tax revenue accounted for by environmental taxes targeting measures to maximise opportunities for green growth in the UK," said the paper.

Businesses already face a variety of environmental charges such as; the Climate Change Levy on electricity use; Carbon Reduction Commitment, which requires companies to pay for energy related emissions; and the Emissions Trading Scheme, for energy intensive companies that are supplied carbon credits and can trade unused ones on an open market.

Environment secretary Caroline Spelman, (pictured) said a green economy would offer "huge opportunities for British businesses".

No comments:

Post a Comment

Andrew Mitchell - says Helen Clark is up to no good!

1. UNDP’s partnership with the World Bank needs to be more effective, particularly in fragile and crisis-affected countries. 2. UNDP’s near universal mandate means its technical resources are spread very thinly. The Board does not provide strategic direction. HR management is weak. It has a weak results chain. 3. There is limited evidence of active senior management consideration of cost control. Country evidence points to mixed progress on demonstrating cost-efficiency. 4. The Executive Board is politicised and there is a lack of consensus on the key areas for reform. It is not clear that current plans for change will deliver the required depth and breadth of reform. 5. Evidence gathered at country level was highly critical of UNDP’s ability to deliver results. Its delivery can be undermined by staffing issues and bureaucratic processes. 6. Its performance in fragile states is mixed. It has reasonable training and a range of guidance and analytical tools but struggles to fill posts. 7. There is no evidence that the Climate Strategy was directly guiding resource allocation decisions

H.E. Dirk Niebel - German Development Minister

"I take the accusations made in the media concerning corruption and breach of fiduciary duty at the Global Fund very seriously and I am sure that the Fund will clarify the matter without delay. Germany is one of the biggest donors to the Global Fund. I have therefore seen to it that a special review will be held. I have frozen all further disbursements to the Fund until matters have been fully clarified, and I will ask a representative of the Fund to come to the BMZ to discuss the matter."

Share now information about illegal dealings at United Nations

Ban Ki Moon supports Ethics Decision on UNDP North Korea